Enterprise Products Partners (NYSE:EPD) Trading 0.5% Higher – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 0.5% during trading on Friday . The company traded as high as $32.55 and last traded at $32.52. Approximately 526,711 shares traded hands during trading, a decline of 88% from the average daily volume of 4,279,968 shares. The stock had previously closed at $32.35.

Wall Street Analyst Weigh In

EPD has been the subject of several recent analyst reports. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Trading Up 1.1 %

The business’s 50-day moving average is $29.66 and its two-hundred day moving average is $29.16. The stock has a market capitalization of $70.90 billion, a PE ratio of 12.18, a PEG ratio of 1.63 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.42%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $2,628,000. Thrivent Financial for Lutherans lifted its position in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $670,000. Finally, Empowered Funds LLC lifted its position in shares of Enterprise Products Partners by 14.1% during the third quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock worth $5,288,000 after purchasing an additional 22,506 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.